Kotak Securities analyst names three Indian stock picks
Amol Athawale, VP of Technical Research at Kotak Securities, recommends MFSL, HDFC Life, and Britannia for short-term gains as India's Nifty 50 shows recovery signs.
Nifty 50 Shows Recovery
India's Nifty 50 index displayed signs of recovery on Thursday, 17 September 2026. The benchmark opened at 23,195.25, slightly below its previous close of 23,217.60, but quickly reversed losses. It gained approximately 0.20% to reach 23,264, according to Kotak Securities' Amol Athawale.
Athawale, Vice President of Technical Research, noted that 23,350 represents an immediate resistance zone for day traders. A move below this level could see the index retest 23,100–23,000, while a sustained rise above 23,350 might extend the rally towards 23,450–23,500.
MFSL and HDFC Life Targets
Athawale recommended three specific Indian equities for potential short-term gains over the next one to two weeks. Max Financial Services Ltd (MFSL) has rebounded from a key demand zone after a prolonged decline, revealing renewed buying interest.
It has formed a bullish engulfing candlestick pattern on daily charts, with the Relative Strength Index (RSI) showing strengthening momentum. Athawale stated that ₹1,430 remains a crucial level; if MFSL holds above this support, it could advance towards ₹1,580.
HDFC Life Insurance Company shares have been in a downtrend, now nearing oversold territory, with chart formations and RSI indicating a likely rebound. Positional traders should watch ₹510 as a decisive level, with an uptrend continuing to ₹570 if maintained.
Britannia's Reversal Potential
Britannia is also among Athawale's short-term picks. Following a correction from higher levels, the stock has bounced from a key demand zone, reflecting renewed buying interest. Britannia has developed bullish reversal patterns on both daily and intraday charts, and its RSI indicator shows improving momentum. Athawale identified ₹4,840 as a key level for the near term.
As long as the stock sustains above this support, the reversal setup is expected to remain intact, with the price potentially moving toward ₹5,370 in the coming horizon.
Investor Watchpoints
Indian investors focusing on short-term movements, specifically within the next one to two weeks, will monitor the price action around these identified levels. For MFSL, a sustained hold above ₹1,430 would confirm the positive trend towards ₹1,580.
Traders in HDFC Life will consider exiting long positions if the stock closes below ₹510, while a move above this level suggests a path to ₹570. Britannia's trajectory towards ₹5,370 depends on its ability to maintain support above ₹4,840. These specific thresholds provide clear decision points for short-term trading strategies.
This article is journalism, not investment advice; consult a licensed professional before making financial decisions. Market data is indicative, may be delayed, and should be verified with your broker or exchange before use.
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